GFEZ-Jangheung-gun-Jeonnam Development Corporation Business Agreement Signed

Agreement for Mutual Growth and Promotion of Investment Attraction

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik] The Gwangyang Bay Area Free Economic Zone Authority (Commissioner Song Sang-rak, hereinafter referred to as Gwangyang Economic Authority) announced on the 31st that it signed a business agreement at the Jangheung County Office Situation Room with Kim Seong, Jangheung County Governor, Jang Chung-mo, President of Jeonnam Development Corporation, and officials from three organizations to promote mutual development and activate investment attraction.

Through this business agreement, the three organizations agreed to establish a mutual cooperation system and jointly strive to improve the sales rate of unsold industrial complexes in Jeonnam Province and revitalize the local economy.

[Photo provided by Gwangyang Bay Area Free Economic Zone Authority]

Song Sang-rak, Commissioner of Gwangyang Economic Authority, stated, "This agreement was prepared to quickly respond to the demands of companies wishing to invest in industries such as food and beverage manufacturing by the three organizations jointly cooperating for the mutual development of the Jeonnam region."

Despite unfavorable domestic and international conditions last year, such as global inflation, COVID-19, and shortage of industrial sites, Gwangyang Economic Authority led investment realization of 1.7 trillion KRW from 28 companies in secondary battery materials and functional chemicals, achieving employment creation of 1,220 people.

Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik hss79@asiae.co.kr

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